Reliance Capital

Home loan ensures that if you dream of owning a home, you can have it. As cost of living is increasing, many people across the country- especially those belonging to middle class- are buying their own property by availing loans from different house finance service providers. There are many authorized banks and finance institutions across the country that offer home loan at lucrative interest rates and flexible EMIs. Apart from that, increased transparency and hassle-free loan approval process makes home loan a beneficial concept.

Different lenders may have difference in interest rates on home loans, and their terms and conditions will also be different from each other. An individual must look for a bank or housing finance institution that offers home loan with lucrative interest rates and flexibility in EMIs.

Reliance Capital Home Loan

Reliance Home Finance is among the largest financial services companies in the country. Serving thousands of customers in plenty of locations across the nation, the company is a reliable housing finance provider offering affordable home loans at attractive interest rates as well as easy-to-pay monthly EMIs. The tailor-made home services of Reliance Capital are client centric and capable of fulfilling their every financial needs related to their dream home. Apart from that, minimal documentation, long tenure and ease in improving eligibility make Reliance Capital home loan a beneficial deal.

Whether you are buying land to construct your dream home, purchase a flat or an already-constructed/under-construction, Reliance Home Finance is dedicated to provide you home loans at convenient tenure. In addition, door-step and e-approval services are also available at the company.

All the documents must be self-attested. Lender may ask you for some more documents based on your overall profile.

Reliance Capital Home Loan Interest Rate

Rates of interest on home loans by Reliance Capital aren’t just competitive, but more attractive than other housing finance providers in the country. Although the company offers longer tenure to reduce monthly EMIs, interest rates are reasonable. On home loans, the lowest rate of interest offered by Reliance Capital is 10.00%. It can fluctuate between 10% and 11.75%. For example, if someone is getting Reliance Capital home loan of Rs 1 lakh at interest rate of 10% for 15 years, the borrower will have to pay a monthly EMI of Rs 1,075. The EMI amount will reduce if the individual chooses a longer tenure.

The company also offers interest rate with floating rate of interest associated to Prime Lending Rate (PLR). At present, lender’s PLR is 18%. The interest rate can also be changed depending on product sub-product variant. The floating interest rate is different for salaried and self-employed borrowers. The rate of interest is 8.35% to 12.00% for salaried, and 8.60% to 12.00% for self-employed home loan borrowers.

Reliance Capital Home Loan Features

Reliance Capital home loans come with lots of beneficial features to help borrowers get the desired amount with ease.

Simplified documentation and easy sanction: Reliance Capital asks for minimal documents to complete the loan approval process. In addition to visiting the company’s nearest office, applicants can also apply for home loan online and get it approved. Plus, home loan can be sanctioned within 48 hours of the application if all the requirements are fulfilled

Customized loans: As different borrowers may have different needs, home loan at Reliance Capital can be customized. Considering requirements and EMIs they can pay, applicants can decide the loan amount and tenure as well.

Customized loans:As different borrowers may have different needs, home loan at Reliance Capital can be customized. Considering requirements and EMIs they can pay, applicants can decide the loan amount and tenure as well

Loan types: Home loans by Reliance Capital aren’t just to buy a new house or purchase a land. You can avail them for several other home-related purposes, like buying a flat/under-construction home or repair/renovate an existing house.

Interest rates:Reliance Capital offers home loans at lucrative interest rates that are payable by all kinds of borrowers.

Balance transfer and top-up:Individuals who have home loans in other banks can transfer the remaining loan to Reliance Capital to enjoy its beneficial services. The company also gives the facility of loan top-up that can be used to get more money to make additional improvements to a home.

Types of Reliance Capital Home Loan

To cater capital needs of all types of applicants, Reliance Capital has various types of home loans.

Home Loan:It’s a customized home loan that salaried as well as self-employed candidates can take to get their dream house.

Affordable home loan: This loan scheme by the company can be availed to purchase a home or anything related to its construction at affordable EMIs and a long tenure.

Loan against property:The home loan type by Reliance Capital is a secured loan where the loan is taken against the residential plot of the borrower. The individual becomes owner of the property once the borrowed amount is paid to the lender.

Construction finance:One can avail this loan scheme if they are planning to buy a home under construction.

Reliance property service:Through this loan type, Reliance Capital provides finance services for all types of residential as well as commercial property demands of interested individuals.

Reliance Capital Home Loan Benefits

Housing finance services of Reliance Capital include many customer-centric benefits that not just help individuals get rid of paying rent, but also help them in several other ways.

Reliance Capital home loans can be customized as per the capital requirements to build a home. This could be decided considering the property type.

Although no guarantor is required to apply for Reliance Capital home loan, an applicant can improve eligibility by defining their spouse as co-applicant. The spouse’s income can be added to improve the eligibility.

Interest rates offered by the lender are attractive and beneficial.

Simplified documents and professionals assisting at every loan approval step make it easy to get the loan approved as soon as possible.

There are also doorstep services as well as loan applying services through online portals.

A borrower can also get top-up amount to an existing loan to get more money to make more improvements in their house.

Easy balance transfer facility is also available with Reliance Capital that can be availed to transfer an existing loan in other bank to Reliance Capital.

Fee and Charges for Reliance Capital Home Loan

The loan processing fee charged by Reliance Capital is 1% of the total amount. Plus, Goods and Services Tax (GST) is applied to the processing fee.

Cheque bounce charges, a penalty, are Rs 450.

Late payment penalty fee charged by Reliance Capital is 3% per month on outstanding amount.

Cheque swapping charges are Rs 500 per swap, while there is no charge on prepayment for the loan.

Reliance Capital Home Loan EMI Calculator

Apart from getting home loan EMI figures from Reliance Capital officials at its branches, you can know more about your monthly EMI through digital EMI calculator online. Reliance Capital official website as well as many other online sites allow you to check your EMI digitally

Reliance Capital Home Loan Eligibility Criteria

Housing finance services by Reliance Capital can be availed by all kinds of salaried as well as self-employed applicants, even who have low income. But there are some conditions which an applicant has to meet to get the required amount.

Age: An applicant must be at least 21 years old to apply for Reliance Capital home loan. In addition, the borrower’s age shouldn’t be more than 65 years.

Income: It’s necessary for the applicant to prove that they earn a regular income. Salaried and self-employed individuals will have to submit documents confirming their income. Minimum annual income of the applicant should be at least Rs 2 lacs.

Home Loan Eligibility Calculator

An applicant can check if there are capable of getting a home loan by consulting experience professionals at Reliance Capital branches across the country. Apart from that, you can also visit the provider’s official website or various other online platforms to check eligibility digitally.

Documentation Required For Reliance Capital Home Loan

Reliance Capital asks for minimal documents to make the loan approval a speedy process. But there are some documents that are required to confirm identity of the applicant and to ensure that they earn a regular income.

Individuals applying for Reliance Capital home loan are required to fill an application form and attach passport size photograph with the form. If there’s a co-applicant, their photograph will also be needed.

Identity and residence proof should also be submitted to prove Indian residency.

To prove regular income, a salaried applicant is required to submit their salary slip of last three months.

Self-employed applicants have to submit qualification certificate, documents proving existence of their business and bank statement of six months. In addition, audited financial papers for the last two years should also be provided.

Other Details on Reliance Capital Home Loan

Minimum home loan against property is Rs 5 lacs, while you can get maximum loan of 5 Cr.

The longest tenure to return the borrowed amount is 30 years.

FAQ's

Who is eligible to avail Reliance Capital Home Loan?

An individual applying for any kind of Reliance Capital home loan should be between 21 years and 65 years old. The individual must be earning regular income.

What types of home-related needs are covered by Reliance Capital Home Loan?

Reliance Capital home loans can be availed to buy land where the house will be constructed, an already-built home as well as a flat. Apart from that, loan top-up services and loan transfer facility is also provided by Reliance Capital.

What are options in Reliance Capital home loan tenure?

Minimum time to repay the home loan is three years, while it could extend up to 30 years.

What is the procedure followed during Reliance Capital home loan approval?